1990 (1) TMI 35

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.... K. S. PARIPOORNAN J. -These are connected cases. These petitions are filed by the Revenue under section 261 of the Income-tax Act, 1961, praying for the issue of a certificate to appeal to the Supreme Court against the common judgment rendered by this court in I. T. R. Nos. 152 and 153 of 1985 dated June 21, 1989. The respondent is an assessee to income-tax. The respondent/ assessee-company r....

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....referred for the decision of this court. A Bench of this court, in delivering the judgment in I. T. R. No. 310 of 1982 dated March 16, 1989 (CIT v. Relish Foods [1989] 180 ITR 454 ), held that the subsidy received from the Central Government cannot be deducted from the cost of the assets for the purpose of allowing depreciation, development rebate and deduction under section 80J of the Incometa....